The first Indo-German trade agreement was already concluded in March 1955. In May 2000, the “Agenda for the Indo-German Partnership in the 21st Century” was signed and laid the foundations for the future.
Germany, Bavaria and India are efficient and reliable economic partners. Indo-Bavarian trade volume amounted to EUR 2.6 billion in 2015. India is thus the fifth most important Asian trading partner for Bavaria after the People’s Republic of China, the Republic of Korea, Taiwan and Malaysia. A glance at the trade balance sheet shows that the number of Bavarian exports to India is higher than Indian imports to Bavaria.
The bilateral foreign trade volume of Germany and India in 2015 amounted to around EUR 17.3 billion, which equated to the 25th position in the international ranking. An analysis of the trade balance sheet reveals that the number of German exports to India is higher with EUR 9.7 billion more than that of imports from India to Germany with EUR 7.6 billion.
The locations of various global players such as Siemens and Volkswagen, as well as the increased investment from the German medium-sized businesses confirms the importance of India as a trading partner for Germany and Bavaria. At present, there are around 1,500 business relationships between Bavarian companies and India and some 300 Indo-Bavarian joint ventures have already been established. Inversely, there are already more than 80 Indian companies in Bavaria who are active on the whole German market.
Bavaria is linked with all important sectors and regions by its representative office in Bangalore and regular domestic trips by its representatives. The traditionally strong bilateral relationships are not only confined to business, but also take place within the realm of culture, strategy and politics.
Of the almost 14,800 Indian citizens living in Bavaria, half live in Munich (2015 figures). There are daily direct flights from Munich to Delhi and Mumbai. Bavaria and Karnataka have been linked by a regional partnership since 2007.
The representative office of Bavaria in India will continue to support Indian and Bavarian companies on each other’s respective market.